Search results
1 – 10 of over 116000Nadine Gatzert and Thomas Kosub
Policy or regulatory risks represent one of the major barriers for renewable energy investments, especially against the background of several retrospective reductions of support…
Abstract
Purpose
Policy or regulatory risks represent one of the major barriers for renewable energy investments, especially against the background of several retrospective reductions of support schemes in Europe. This paper aims to contribute to the literature by offering a categorization of major risk drivers and determinants of policy risk associated with renewable energy projects in developed countries.
Design/methodology/approach
Based on a narrative (traditional) review of the academic literature and supported by industry studies regarding cases of support scheme cuts in Europe (from the end of 2010 until the end of 2013), the paper derives determinants of policy risks of renewable energy investments.
Findings
As a main result, the paper offers a concise categorization of major risk drivers of policy and regulatory risks associated with renewable energy investments in developed countries along with potential indicators.
Practical implications
The derived categorization of major risk drivers and the set of indicators are of high relevance for risk management and risk assessment of renewable energy investments, where understanding the underlying risk drivers is vital. The findings can thus be applied when establishing a sound risk management for renewable energy investments.
Originality/value
The paper helps (potential) investors, policymakers and regulators to assess policy risks associated with renewable energy investments.
Details
Keywords
Erwin Wauters, Yann de Mey, Frankwin van Winsen, Steven Van Passel, Mark Vancauteren and Ludwig Lauwers
Building on the risk balancing theory and on recent discussions the appropriateness of using farm income maximization as behavioural assumption, this paper extends the risk…
Abstract
Purpose
Building on the risk balancing theory and on recent discussions the appropriateness of using farm income maximization as behavioural assumption, this paper extends the risk balancing framework by accounting for business-household interactions. The purpose of this paper is to theoretically introduce the concept of farm household risk balancing, a theoretical framework in which the farm household sets a constraint on the total household-level risk and balances farm-level and off-farm-level risk.
Design/methodology/approach
The paper argues that the risk behaviour of farmers is better understood by considering risk at the household level. Using an analytical framework, equations are derived linking the farm activities, off-farm activities, consumption and business and private liquidity.
Findings
The framework shows that a farm household that wants to minimize the risk that total household cash flow falls below consumption needs, may exhibit a wide variety of behavioural responses to changes in the policy and economic environment.
Social implications
The framework suggests multiple ways for policy makers and individual farmers to support risk management.
Originality/value
Risk management is at the core of the agricultural policy and it is of paramount importance to be able to understand behavioural responses to market and policy instruments. This paper contributes to that by suggesting that the focus of current risk analysis and management studies may be too narrowly focused at the farm level.
Details
Keywords
This paper aims to use the results of a synthesis of six social science fellowships to explore how alternative framings of the climate justice debate can support fairer climate…
Abstract
Purpose
This paper aims to use the results of a synthesis of six social science fellowships to explore how alternative framings of the climate justice debate can support fairer climate policies.
Design/methodology/approach
The original fellowships drew on sociology, economics, geography, psychology and international relations. Cross-cutting themes of rights, risks and responsibilities were identified following a series of workshops. Results of these workshops were discussed in a number of policy fora. Analysis of the feedback from that fora is used to propose the case for a rights, risks and responsibilities approach to building a more accessible climate justice debate.
Findings
Existing climate policy unjustly displaces a) responsibility for emission reductions, b) risks from climate impacts and c) loss of rights. Foundational questions of acceptable risk have been ignored and a just climate policy requires procedurally just ways of revisiting this first-order question.
Research limitations/implications
The contribution a rights, risks and responsibilities framework can bring to a process of educating for climate stewardship is at this stage theoretical. It is only through trialling a rights, risks and responsibilities approach to climate justice debates with the relevant stakeholders that its true potential can be assessed.
Practical implications
Policy actors expressed strong resistance to the idea of overhauling current decision-making processes and policy frameworks. However, moving forward from this point with a more nuanced and tactical understanding of the dialectical relationship between rights, risks and responsibilities has the potential to improve those processes.
Social implications
Educating for climate stewardship will be more effective if it adopts an approach which seeks a co-production of knowledge. Beginning with the foundational question of what counts as an acceptable level of climate risk offers an inclusive entry point into the debate.
Originality/value
Reveals limits to public engagement with climate policy generated by a ‘justice’ framing.
Details
Keywords
Muntazir Hussain, Usman Bashir and Ahmad Raza Bilal
The purpose of this paper is to investigate the risk-taking channel of monetary policy transmission in the Chinese banking industry. This study also investigates the role of…
Abstract
Purpose
The purpose of this paper is to investigate the risk-taking channel of monetary policy transmission in the Chinese banking industry. This study also investigates the role of various other factors in the risk-taking channel.
Design/methodology/approach
This study used panel data from 2000 to 2012, and a dynamic panel model (Difference GMM) was applied.
Findings
The empirical findings of this paper suggest that loose monetary policy rates increase bank risk-taking. Unlike previous studies, the results of this paper suggest that the bank-specific factors (size, liquidity and capitalization) do not significantly affect the risk-taking channel. However, the market structure does have a stabilizing effect on monetary policy transmission and the risk-taking channel. Higher market power weakens the risk-taking channel of monetary policy transmission.
Practical implications
Of significance to the policymakers' point of view is that loose monetary policy induces banks to take excessive risks. However, such effects can be mitigated by encouraging a proper level of market power in banking markets.
Originality/value
This study investigated the risk-taking channel of monetary policy transmission for the Chinese banking industry. Due to the unique features of the People's Bank of China (PBC, Central Bank of China) policy, this study also contributes to the literature by comparing price-based and quantity-based monetary policy tools and their effectiveness in financial stability and monetary policy transmission. Furthermore, the role of market structure is also investigated in the risk-taking channel.
Details
Keywords
Philipp Ulbrich, André Vinicius Leal Sobral, Luis Alejandro Rivera-Flórez, Edna Margarita Rodríguez-Gaviria, Jon Coaffee, Victor Marchezini and João Porto de Albuquerque
Disasters continue to be most prevalent and severe for marginalised communities. To reach those furthest behind first, as the global community pledges in the 2030 Agenda, a…
Abstract
Purpose
Disasters continue to be most prevalent and severe for marginalised communities. To reach those furthest behind first, as the global community pledges in the 2030 Agenda, a critical assessment of equity in disaster risk governance is necessary. Yet, the understanding of factors that mediate the capacity of the governance processes to achieve equity ambitions is limited. This paper addresses this gap by proposing and testing a conceptual framework to assess equity in disaster risk governance.
Design/methodology/approach
The framework analyses the extent to which institutional relationships and data in risk governance support inclusion and diversity of voice and enable the equitable engagement of communities. The study applied the framework to key risk policies across governance levels in Brazil and Colombia.
Findings
The study finds that institutional awareness of cross-sectoral and -scalar coordination clearly exists. Yet, the engagement of actors further down the governance scale is framed reactively at all scales in both countries. The analysis of the risk data practices indicates that although data integration and sharing are key policy priorities, the policies frame the relations of disaster risk data actors as hierarchical, with data needs determined from the top down.
Originality/value
A key contribution of this framework is that its equity view results in a nuanced analysis, thus pointing to the differences between the two countries concerning the factors that mediate these challenges and providing specific entry points for strengthening equity in risk governance policies.
Details
Keywords
Kazem Askarifar, Yalda Dehbozorgi and Ali Alsafi
This study aims to examine the relationship between the risk-aversion level of return policies and customer trust in online shopping in three countries in the Middle East.
Abstract
Purpose
This study aims to examine the relationship between the risk-aversion level of return policies and customer trust in online shopping in three countries in the Middle East.
Design/methodology/approach
In the first step, the different types of return policies of online shoppers and the risk-aversion level were determined by surveying 18 online shops and interviewing 21 customers. The risk-aversion level of these policies was found in the experts’ panel. In the second step, the experiences of 573 consumers when facing seller’s return messages, perceived risk and consumer trust in three countries (UAE, Iraq and Iran) were collected through a questionnaire. Finally, the gathered data were analyzed using structural equation modeling.
Findings
The results indicated that risk-averse return policies taken by online vendors led to lower consumer trust. Moreover, customer perceived risk mediated the relationship between return policies’ risk-aversion level and trust in Iraq and Iran. At the same time, there was no significant association between return policies and perceived risk in UAE. In addition, perceived risk wholly mediated the relationship between return policies’ risk aversion and trust in vendors in Iran, but this role was minor in Iraq.
Originality/value
Among the intercultural studies, especially in the Middle East, this is one of the first studies based on the marketing and sales management in an online shopper’s supply chain. Moreover, the investigation of return policies in online commerce is another innovative aspect of the present paper.
Details
Keywords
Edmund C. Penning‐Rowsell, Edward P. Evans, Jim W. Hall and Alistair G.L. Borthwick
The Foresight Future Flooding (FFF) project researched flood risk in the UK to the year 2100 for central government, using scenarios and a national risk assessment model backed by…
Abstract
Purpose
The Foresight Future Flooding (FFF) project researched flood risk in the UK to the year 2100 for central government, using scenarios and a national risk assessment model backed by qualitative analysis from panels of some 45 senior scientists. The purpose of this paper is to assess the impact of the project, both nationally and internationally.
Design/methodology/approach
This paper assesses the impact of the FFF project, both nationally and internationally, using web searches, document analysis, and a questionnaire survey of key actors in the flood risk management policy field.
Findings
It was found that the penetration of the project into professionals' consciousness was high in relation to other comparable projects and publications, and its impact on policy – both immediately and continuing – was profound. The FFF initiative did not create policy change, however, but facilitated its legitimation, adding impetus to what was already there, as one element of a part‐catalytic and part‐incremental process of policy evolution.
Research limitations/implications
Special circumstances, internal and external to the project, mean that this cannot be a simple model for matching research to policymakers' needs in the future.
Practical implications
Important lessons may be learnt from this project about both the methods of forward‐looking foresight‐type research, and the way that its results are disseminated to its target audiences.
Originality/value
This is an innovative attempt to assess the impact of a new type of foresight project.
Details
Keywords
Alessandro Aldini, Jean-Marc Seigneur, Carlos Ballester Lafuente, Xavier Titi and Jonathan Guislain
The Bring-Your-Own-Device (BYOD) paradigm favors the use of personal and public devices and communication means in corporate environments, thus representing a challenge for the…
Abstract
Purpose
The Bring-Your-Own-Device (BYOD) paradigm favors the use of personal and public devices and communication means in corporate environments, thus representing a challenge for the traditional security and risk management systems. In this dynamic and heterogeneous setting, the purpose of this paper is to present a methodology called opportunity-enabled risk management (OPPRIM), which supports the decision-making process in access control to remote corporate assets.
Design/methodology/approach
OPPRIM relies on a logic-based risk policy model combining estimations of trust, threats and opportunities. Moreover, it is based on a mobile client – server architecture, where the OPPRIM application running on the user device interacts with the company IT security server to manage every access request to corporate assets.
Findings
As a mandatory requirement in the highly flexible BYOD setting, in the OPPRIM approach, mobile device security risks are identified automatically and dynamically depending on the specific environment in which the access request is issued and on the previous history of events.
Originality/value
The main novelty of the OPPRIM approach is the combined treatment of threats (resp., opportunities) and costs (resp., benefits) in a trust-based setting. The OPPRIM system is validated with respect to an economic perspective: cost-benefit sensitivity analysis is conducted through formal methods using the PRISM model checker and through agent-based simulations using the Anylogic framework.
Details
Keywords
Among the current discourses around social media risk management (SMRM) is whether institutions perceive social media (SM) as more of an opportunity to be embraced and regulated…
Abstract
Purpose
Among the current discourses around social media risk management (SMRM) is whether institutions perceive social media (SM) as more of an opportunity to be embraced and regulated, or a risk to be avoided or mitigated, how this is reflected in their policies and how institutional stance reflects their regulation and management of SM use and practices. There is currently no scholarly literature that addresses these for the memory sector where SM use has proliferated. This research aims to address this gap by putting a focus on national memory institutions (MIs), whose strategies and operations are often governed by a public/civic mandate.
Design/methodology/approach
This research involves a comprehensive literature review and a content analysis. The review includes studies that have analysed institutional SM policies in other sectors. The review informs our content analysis both in terms of approaches and in terms of identifying areas for comparisons. Following an initial scoping review and a close inspection, a sample of eight policies of national MIs were included in the content analysis.
Findings
The content analysis led to the identification of 8 core themes and 36 sub-themes. The main themes are concerned with account management, audience management, rules for use, protecting institutional interests, legal considerations, the purpose of the policy, nature of postings and referencing information. Also emerged from the findings are a few gaps that we expect will provide a platform for further discourses with regard to the potentially complex role SM policies have in MIs and the broader cultural heritage sector in relation to their public/civic mandates.
Originality/value
This is the first close SM policy analysis for the memory sector focusing on national MIs. This research contributes insights into how national-level MIs tend to frame the opportunities and the risk of SM use, the ways in which they govern SM usage and their different approaches to SMRM. The findings have implications for SM policy development and implementations, and further iterations of SM policies in the memory sector.
Peer review
The peer review history for this article is available at: https://publons.com/publon/10.1108/OIR-09-2020-0421
Details
Keywords
Feng Xie, Hamish D. Anderson, Jing Chi and Jing Liao
This paper examines the impact of state control on stock price crash risk given whether and how ownership structure affects stock price crash risk is relatively underexplored.
Abstract
Purpose
This paper examines the impact of state control on stock price crash risk given whether and how ownership structure affects stock price crash risk is relatively underexplored.
Design/methodology/approach
The sample includes 2,285 Chinese firms listed in the Shanghai and Shenzhen Stock Exchanges. Panel data is used for conducting the analysis and endogeneity is addressed with instrumental variable estimation and by testing how stock price crash risk is affected when the ultimate controller changes from a private-owned company to a state-owned enterprise.
Findings
The authors find that state control is negatively associated with future stock price crash risk. The mechanism analysis shows that state control reduces stock price crash risk through the implementation of conservative corporate policies. Furthermore, the impact of state control is more pronounced with more intensive state involvement, e.g. in strategic industries and when a company's ultimate controller is a non-corporate government agency or the central government.
Originality/value
This paper enriches the literature on the controversy of the role of state control and the results of this study highlight the importance of the conservatism of state control on reducing stock return tail risk. The authors also add to the literature on the importance of the policy-risk sharing effect of state ownership.
Details